Power
Video: Prices and regulation posing challenges, says NRG's Mackey
Glenn Mackey, CRO of NRG Energy, says low commodity prices and new rules are major concerns in a video interview at Energy Risk Summit USA in Houston
Quant ideas: Do we need realistic models?
It is often assumed that realistic models are a prerequisite for successful risk management, but this is not necessarily true. While using any model blindly can be extremely dangerous, simple Black-Scholes or Ornstein-Uhlenbeck models are more than…
Consultancy of the year: Capgemini Consulting
The consultancy's German energy trading practice has helped power companies grapple with an onslaught of renewable energy and new regulations
Exchange of the year: APX
Exchange has responded well to the evolving European power market and changes in the products demanded by its members
Electricity house of the year: Citi
Bank continues to provide liquidity despite tough markets and extreme weather
New CEO Mausbeck oversees shake-up at Danske Commodities
Dirk Mausbeck, the new chief executive of Danske Commodities, is striving to bring the Denmark-based trading house back into top form after a turbulent year
Citi acquires Texas power trading book from Barclays
US bank continues aggressive push into commodities by buying Barclays’ Texas power book, after similar purchases of trading books from Deutsche Bank and Credit Suisse last year
Firms weigh benefits as EU power market coupling expands
Day-ahead power market coupling has been in operation across the North West Europe region for over a year. To what extent has it helped prices converge, and what are the next steps aimed at bringing Europe’s electricity markets closer together?
Barclays ruling bolsters Ferc anti-manipulation drive
Ferc has won a key motion in a $470 million manipulation case against Barclays, which strengthens the regulator's hand in other enforcement actions
Highlights from Energy Risk Summit USA 2015
Exclusive coverage of the flagship congress for senior energy risk managers and traders
US energy firms lament liquidity 'void' after bank exits
The retreat of banks from commodities has caused liquidity to dry up, making it much tougher to hedge, say participants at Energy Risk Summit USA
Bulgaria power market faces challenges, conference told
Bulgaria's electricity market is being hampered by poor transparency, export fees and market structure, heard delegates at Energy Risk Balkans
Hedge fund case tests Ferc's anti-manipulation drive
A US Federal Energy Regulatory Commission probe into a little-known energy hedge fund has turned into an unusual public standoff. Now, the fund's founders are girding themselves for a long legal battle, which may set an important precedent for US energy…
End-users press Congress for Dodd-Frank fixes
US commodity firms blast the CFTC over hedge exemptions to position limits, as Congress launches the process of writing legislation to reauthorise the agency
Power capacity mechanisms worry EU electricity traders
Power traders are concerned that a growth of interest in capacity mechanisms could threaten the potency of traded electricity markets across the European Union, while disrupting plans to forge a unified internal energy market
UK power grid needs investment to keep lights on in future
The lights stayed on in the UK last winter, despite thin supply margins and outages at important base-load power plants. But the country’s capacity crunch isn’t going away, and utilities will have to work harder to optimise their output in future, argues…
Capacity mechanisms spark concern from power traders
Zest for subsidies could threaten plans for unified EU electricity market, argue power traders
Market manipulation push is widening the compliance gap
European and US energy regulators must decide how aggressive they wish to be when it comes to enforcing fraud-based anti-manipulation rules. Taking things too far could harm market efficiency and stifle the benefits of competition, argue Shaun Ledgerwood…
Energy traders seek deal on Remit delegated reporting
Efet is working to prepare a standard framework for delegated reporting under Remit with energy exchanges and brokers, before an October deadline for reporting kicks in
Robust valuation and hedging of tolling agreements and physical assets
Krzysztof Wolyniec shows how very robust valuation bounds of tolling agreements can be obtained without modelling the dispatch process or the underlying price process. This flexible method, which uses martingale duality, provides a reliable valuation…
JP Morgan exits power markets with Mercuria deal
Electricity firms are gloomy about JP Morgan’s departure from power markets, saying trading houses and oil majors are not providing the same level of liquidity as banks once did
Looking back: Neta set to change UK power market
The UK power market currently faces severe criticism, but when the present market structure was launched in March 2001, it was heralded as ‘ground-breaking’ by industry observers
Power companies slam New England reliability plan
Electricity companies are criticising "unreasonable" and "discriminatory" measures designed to keep New England's lights on during the coming winter, arguing in favour of a longer-term fix
German renewables shift welcomed by energy firms
A push to increase the number of German renewable energy producers that directly market their output has received a positive reception from energy trading firms, which are likely to benefit from the changes